By Sheri Kasprzak
New York, Oct. 22 - The State Public Works Board of California sold on Thursday $805.21 million of series 2009 lease revenue bonds, said a pricing sheet.
The sale included $523.695 million of series 2009G-1 various capital project revenue bonds, $250 million of series 2009G-2 taxable Build America Bonds and $31.515 million of series 2009H taxable variable-rate bonds.
The series 2009G-1 bonds are due 2010 to 2026 with a term bond due 2030, with coupons from 2% to 5.75%. The 2009G-2 bonds are due 2034 with an 8.361% coupon and priced at par. The 2009H bonds are due 2010 to 2027 with a term bond due 2029.
Morgan Stanley & Co. Inc. and RBC Capital Markets Inc. were the senior managers. The co-managers included Ramirez & Co. Inc., De La Rosa & Co., Fidelity Capital Markets Inc., Prager, Sealy & Co. Inc., Sandgrain Securities Inc. and Stone & Youngberg.
Proceeds will be used to fund capital projects and improvements to the state's prisons and rehabilitation facilities.
| Issuer: | State Public Works Board
|
| Issue: | Series 2009 lease revenue bonds
|
| Amount: | $805.21 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. and RBC Capital Markets Inc. (lead), Ramirez & Co. Inc., De La Rosa & Co., Fidelity Capital Markets Inc., Prager, Sealy & Co. Inc., Sandgrain Securities Inc. and Stone & Youngberg (co-managers)
|
| Pricing date: | Oct. 22
|
| Settlement date: | Oct. 29
|
|
|
| Series 2009G-1
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 2% | 100.593
|
| 2011 | Serial | 2% | 99.718
|
| 2011 | Serial | 4% | 103.272
|
| 2012 | Serial | 3% | 101.117
|
| 2013 | Serial | 5% | 106.963
|
| 2014 | Serial | 3.75% | 100.668
|
| 2014 | Serial | 5% | 106.260
|
| 2015 | Serial | 5% | 104.686
|
| 2016 | Serial | 4.375% | 99.495
|
| 2016 | Serial | 5% | 103.182
|
| 2017 | Serial | 4.75% | 99.865
|
| 2017 | Serial | 5.25% | 103.132
|
| 2018 | Serial | 5.25% | 102.283
|
| 2019 | Serial | 5.25% | 101.541
|
| 2020 | Serial | 5% | 98.754
|
| 2021 | Serial | 5% | 97.714
|
| 2022 | Serial | 5.125% | 98.098
|
| 2023 | Serial | 5.25% | 98.54
|
| 2024 | Serial | 5.25% | 97.87
|
| 2025 | Serial | 5.375% | 98.68
|
| 2026 | Serial | 5.5% | 99.45
|
| 2030 | Term | 5.75% | 99.034
|
|
|
| Series 2009G-2
|
| Maturity | Type | Coupon | Price
|
| 2034 | Term | 8.361% | 100
|
|
|
| Series 2009H
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 2% | 100.646
|
| 2011 | Serial | 2% | 99.707
|
| 2012 | Serial | 3% | 101.149
|
| 2013 | Serial | 3% | 99.625
|
| 2014 | Serial | 3.75% | 100.681
|
| 2015 | Serial | 4.25% | 100.791
|
| 2016 | Serial | 4.375% | 99.493
|
| 2017 | Serial | 4.75% | 99.867
|
| 2018 | Serial | 4.875% | 99.603
|
| 2019 | Serial | 5% | 99.61
|
| 2020 | Serial | 5% | 98.751
|
| 2021 | Serial | 5% | 97.706
|
| 2022 | Serial | 5.125% | 98.093
|
| 2023 | Serial | 5.25% | 98.538
|
| 2024 | Serial | 5.25% | 97.867
|
| 2025 | Serial | 5.375% | 98.68
|
| 2026 | Serial | 5.5% | 99.453
|
| 2027 | Serial | 5.5% | 98.874
|
| 2029 | Term | 5.75% | 99.529
|
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